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Tata Comm says raises stake in S.Africa’s Neotel

Tata Comm says raises stake in S.Africa’s Neotel
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First Published: Mon, Jun 13 2011. 07 24 PM IST
Updated: Mon, Jun 13 2011. 07 24 PM IST
New Delhi: Indian telecoms firm Tata Communications said on Monday it has increased its effective holding in South Africa’s second-biggest fixed-line phone operator Neotel to 61.5% from 49%.
Neotel has become a subsidiary of Tata Communications after the stake increase, the Indian firm said in a statement to the stock exchanges.
Launched in 2006, Neotel has yet to turn a profit.
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First Published: Mon, Jun 13 2011. 07 24 PM IST